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AG 2017 08 21
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AG 2017 08 21
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Last modified
8/24/2017 4:41:15 PM
Creation date
11/27/2017 10:29:54 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/21/2017
Board
Board of Commissioners
Meeting Type
Regular
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garage and related facilities on real property owned by the County, (d) the acquisition of any <br /> necessary rights-of-way and easements related to each of the foregoing and (e) various real and <br /> personal property improvements related to each of the foregoing(collectively, the "Projects"), and <br /> under said one or more long-term installment financing contract(s) the County would secure the <br /> repayment by the County of the moneys advanced pursuant to such one or more long-term <br /> installment financing contract(s) by granting a security interest in and lien on all or some portion <br /> of the Projects or all or some portion of the real property upon which the Projects are located; <br /> WHEREAS, as part of said plan of financing, the Corporation may also determine to <br /> execute and deliver one or more series of Certificates of Participation and/or Limited Obligation <br /> Bonds in said one or more long-term installment financing contract(s) in an aggregate principal <br /> amount not exceeding $128,105,000 to finance the advancement of moneys to the County pursuant <br /> to said one or more long-term installment financing contract(s) between the County and the <br /> Corporation or one or more third parties; <br /> WHEREAS, there have been submitted to this meeting draft forms of the following <br /> documents (the "Financing Documents") with respect to the financing for the Projects: <br /> (1) an Installment Financing Contract, proposed to be dated on or about November 1, <br /> 2017 (or such other date(s) as may be selected by the County), between the County and the <br /> Corporation (or one or more third parties) as counterparty (the "Contract(s)"), pursuant to which <br /> the Corporation (or such one or more third parties) will advance moneys to the County for the <br /> costs of the Projects and the County agrees to make periodic installment payments (the <br /> "Installment Payments") to repay the moneys so advanced, with or without interest, as applicable; <br /> (2) a Deed of Trust, Security Agreement and Fixture Filing (the "Deed of Trust"), <br /> proposed to be dated on or about November 1,2017, among the County as Grantor,the Corporation <br /> (or such one or more third parties) as Beneficiary and the trustee named therein, by which the <br /> County would secure its obligations to the Corporation (or such one or more third parties) under <br /> the Contract(s); <br /> (3) an Indenture of Trust, proposed to be dated on or about November 1, 2017 (the <br /> "Trust Indenture"), between the Corporation and the trustee named therein, as trustee (the <br /> "Trustee"), pursuant to which there may be executed and delivered from time to time Certificates <br /> of Participation and/or Limited Obligation Bonds, including, without limitation, the Limited <br /> 2 <br /> G-4 Page 240 <br />
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